Pension taxation

Move will bring benefit and pension tax rules at end of life into closer alignment

Reports say chancellor has also decided against cutting pension lump-sum withdrawals

Reminded firms that, in practical terms, no cancellation rights exist on PCLS

Treasury could move on tax-free lump sum, tax relief, salary sacrifice or annual allowance in hunt for Budget savings

Former pensions minister welcomes ‘victory’ ending system which overcharged pensioners by £1.3bn

Fabian Society report says chancellor could raise £10bn by ‘cutting and reforming pensions tax relief’

SPP says proposals have ‘tangible risk’ of ‘unintended consequences’ for schemes

AJ Bell analysis found pension freedoms over-taxation reclaims are approaching £900m